ArchivesOne Expands Through Acquisition

Republican-American
Wednesday, July 11, 2001
By David A. Smith

WATERTOWN - ArchivesOne Inc., a Watertown-based records management firm, announced Friday it acquired a New Jersey company and its 150 customers, its fourth acquisition in the last 18 months.

Atlas Archives, a similar records management business based in Trenton, N.J., is ArchivesOne's first deal this year. Terms of the deal were not disclosed.

ArchivesOne provides records management and storage services to banks, law firms, hospitals, corporations and medical practices in Connecticut, New Jersey, New York and Ohio. Founded in 1991 by A.J. Wasserstein, the company now boasts more than 1,300 customers and between 85 and 90 employees.

"It's a wonderful opportunity," owner Wasserstein said of Friday's acquisition, which he described as adding about 3 percent growth to the company's business. "The new customers will fit nicely into our existing customer base and clearly cements our position as a premier super-regional player in the industry."

Wasserstein said the deal also extends the company's reach further south into the New Jersey market, where its existing Newark operations already serve the central part of the state. He expects the acquisition to add "a couple" of employees to the company's ranks.

The deal is the first for ArchivesOne since it acquired National Archival Services of Columbus, Ohio, last October. Last year, ArchivesOne also bought New Jersey-based Clover Records Management and Document Storage & Management, of Port Washington, N.Y., pushing its real estate holdings to more than 600,000 square feet.

Last year's acquisitions added more than 425 customers and 345,000 square feet to the company's operations. The company also moved last year to a new headquarters at 200 Commercial St., in Watertown. In February, the firm was recognized as one of the 11 fastest-growing, inner-city companies in the state. "We're actively trying to grow," Wasserstein said Friday. "We're constantly looking for smart opportunities."